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Guyana becoming land of oil and opportunities

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Non-resident Ambassador of the Swiss Confederation to Guyana, Mr. Didier Chassot, said Tuesday that Guyana is becoming the ‘land of opportunities’ as he noted that with the development of an oil and gas sector and the pursuit of the...
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Oil prices hit highest in years as markets adjust to looming sanctions on Iran

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(Reuters) - Oil prices clocked up more multi-year highs on Thursday as traders adjusted to the prospects of renewed U.S. sanctions against major crude exporter Iran amid an already tightening market. The United States plans to impose new sanctions against...
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Exxon joint venture partner HESS ranked top oil and gas company on 2018 Best Corporate Citizens list

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Hess Corporation (NYSE: HES) has earned a place as the No. 1 oil and gas company on Corporate Responsibility magazine’s prestigious list of 100 Best Corporate Citizens for 2018. The annual list recognizes public companies across the United States that demonstrate...
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Kosmos expects results from Anapai this month

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Kosmos Energy says it expects results from the Anapai-1 well in Suriname later this month as drill operations continue in Block 45 where the company holds a 50% interest. The company announced its first quarter 2018 results on Monday, reporting...
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Suriname has long history of respecting oil agreements – Staatsolie CEO

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Staatsolie Maatschappij Suriname N.V Managing Director and Chief Executive Officer, Rudolf Elias, says the Dutch-speaking South American country has a long history of respecting agreements with International Oil Companies (IOCs) and this continues to play a key role in...
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Why is Exxon drilling, testing a 5th well in the Liza field?

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Drilling and testing of a 5th well in the giant Liza field offshore Guyana is part of a process to accumulate vital data that would aid in the design of a Phase 2 development project set to get underway...
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Oil faces month of mayhem as geopolitical risks proliferate

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(Bloomberg) -- Plunging Venezuelan crude production; sanctions disrupting Iranian oil exports; Saudi Arabia pushing for even higher prices; North Korea peace talks -- the coming weeks bring an abundance of risks for the oil market. The geopolitical premium has already...
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Conoco moves to take over Venezuelan PDVSA’s Caribbean assets

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(Reuters) - U.S. oil firm ConocoPhillips (COP.N) has moved to take Caribbean assets of Venezuela’s state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country, according to three...
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Liza 5 well test underway; Long Tail next stop for Stena drillship

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US oil major ExxonMobil is set to acquire more data for analysis from the Liza 5 appraisal well in order to broaden its knowledge of the greater Liza resource offshore Guyana. “The Stena Carron is currently drilling Liza 5 appraisal...
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Guyana expected to become less dependent on donor funds when oil begins to flow

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Guyana is less than two years away from becoming a major oil producing economy and Chief Executive Officer of the CARICOM Development Fund (CDF), Rodinald Soomer, said the imminent revenue expected from this development could change the South American country’s...
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IEA warns of major drop in oil investment as clean energy gains momentum

Upstream oil investment is expected to decline by 6% in 2025, marking the first drop since 2020 and the...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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